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Calculation of the amount received by Flower as a final distribution from liquidation of the partnership.
| Flower's equity prior to liquidation | $ 26,000.00 | |
| Realization of asset sales | $ 57,000.00 | |
| Less : Book Value of assets (Liabilities + Owner's Equity) | $ (67,000.00) | |
| [ $ 3,000 + $ 26,000 + $38,000 = $ 67,000] | ||
| Loss on Liquidation | $ (10,000.00) | |
| Flower's share of Loss ( $ 10,000 * 50% ) | $ (5,000.00) | |
| Flower's Cash Distribution | $ 21,000.00 |
The amount received by Flower as a final distribution from liquidation of the partnership is $ 21,000.
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